Kingsoft Cloud (NASDAQ:KC) Trading Up 7.8%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares were up 7.8% during trading on Wednesday . The company traded as high as $2.69 and last traded at $2.64. Approximately 992,519 shares changed hands during trading, a decline of 13% from the average daily volume of 1,144,743 shares. The stock had previously closed at $2.45.

Analyst Ratings Changes

Several equities research analysts have recently commented on KC shares. Jefferies Financial Group boosted their price target on Kingsoft Cloud from $3.40 to $3.80 and gave the stock a “buy” rating in a research note on Monday, March 25th. Citigroup upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Thursday, March 21st. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Finally, CLSA raised shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target for the company in a research report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.55.

Kingsoft Cloud Trading Up 5.7 %

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $2.96 and its 200-day moving average is $2.98. The firm has a market capitalization of $657.06 million, a P/E ratio of -2.28 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The firm had revenue of $245.93 million for the quarter, compared to analyst estimates of $244.03 million. Kingsoft Cloud had a negative return on equity of 25.61% and a negative net margin of 27.62%. As a group, sell-side analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its holdings in Kingsoft Cloud by 50.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after buying an additional 5,126 shares during the period. Russell Investments Group Ltd. increased its holdings in Kingsoft Cloud by 35.6% during the fourth quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after buying an additional 15,913 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Kingsoft Cloud by 3.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock worth $2,363,000 after buying an additional 20,084 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 11.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 328,354 shares of the company’s stock worth $1,241,000 after buying an additional 33,411 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after buying an additional 35,175 shares during the last quarter. Institutional investors own 13.40% of the company’s stock.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.